IvanLabrie
Long

EURGBP: Long above lowest high

FX:EURGBP   Euro Fx/British Pound
259 35 11
Potential leg up in this pair.
DXY             is facing a very strong resistance, I expect usdjpy             to fall, as well as eurusd             and eurgbp             to go up.
I woudn't attempt to long eurusd             or euraud             or eurcad             now though, it's safer to trade it against the pound.
Time and price target reached suggests potential reversal or pullback.
Good luck!
Ivan.
interesting
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both pairs are very weak. Id still bank GBP would strengthen before EUR.
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IvanLabrie PRO workingtraders
Hard to say, this is 100% technical.
I expect DXY and eurusd to reverse as well.
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GcNaif MOD IvanLabrie
seeing bearish gartley on dxy
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smart move Ivan
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Or rather, Long Yen could be the safe play again. Watching the DXY it looks very tricky. EURGBP would be best to wait until the ECB is done with and see how things go. Could turn out to be a buy and hold into May.
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IvanLabrie PRO justatrader
USDJPY: Update
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i must be either stupid or what xD
i am looking for shorting opportunity
1. if price reach channel top and give bearish signal
2. price breaks down the triangle is an immediate short
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IvanLabrie PRO jangseohee
This is a short term bounce trade...it can also extend down like your chart, but I doubt it.
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jangseohee jangseohee
it fulfilled my criteria number 2.
i move my stop gain trailing it
fingers cross
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Good catch on the 240 time frame. I've been a bit too closely watching the H1 and 30m. So almost in the short term, we could see a dip lower. Question is how low!! And concerned that the Euro is actually weaker than the GBP (in a UK election season period).. that's very weird.
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jangseohee jangseohee
there is a slight bullish divergence now
if the price did re-test resistance (coincide with undercut of triangle) then i suppose MACD will be meeting the upper triangle line..and then i will check for break out
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jangseohee jangseohee
look at the violent move geeze
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jangseohee jangseohee
alright, wrong analysis
half profit half breakeven
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I was just rethinking this ccy.

Consolidation just above support and trading in a range, so a break out below could see it free fall to 0.718 and then the tgt's mentioned.
Also weekly turned out to be a bearish engulfing pattern supporting the view to the downside
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IvanLabrie PRO justatrader
Or extremely oversold and bounce back up...we'll see soon enough.
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I jumped in with stops just above 0.72766, will move to BE on this candle's close, with targets @ 7228, 718 and 713. *fingers crossed*
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IvanLabrie PRO justatrader
This looks like the most probable outcome...SL should contemplate this kind of fall (if you base it on daily ATR multiples you're fine).
Maybe it drops until Wednesday, then head up from 0.718.
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Not liking the price action in this one for now.
Might be a fake a spike and then head down...hopefully it isn't but well.
Give it two more days.
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The reaction wasn't as bullish as expected. It's really likely to see further downside if the UK CPI numbers are good.
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Trade still running...will have to be patient.
UK CPI data coming out now, should boost this pair.
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Good chance of a bounce to 0.72425. But besides that, daily continues to look bearish
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IvanLabrie PRO justatrader
Indeed. I'm out of the trade already. Watching for now.
Did you take audjpy and gbpjpy? Looks like they'll both fulfill my earlier projections.
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Daily bird's eye view:

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Entered long again with a 20 pip stop. I expect to ride it for 370 to 740 pips in 2 to 5 weeks.
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IvanLabrie PRO IvanLabrie
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jangseohee IvanLabrie
double bottom?
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IvanLabrie PRO jangseohee
I'll post my monthly for your amusement now...
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Unless that last support is broken, don't see any downside move. Daily formed like a spinning bottom yesterday, so there could be a retracement to 0.7223 and/or 0.724
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And this is the daily view: I think its very obvious now.
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IvanLabrie PRO justatrader
Saw my wave counts?
This is a large scale reversal, potentially.
Compare eurjpy to gbpjpy and you'll find something interesting.
Which has more room to fall in the intermediate term?
That will answer this question of relative strength for you.
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IvanLabrie PRO IvanLabrie
Pitchfork from highest lows and lowest highs (using the close of said small range bars).
Time at mode downtrend expiration in the quarterly chart too.
A move above the previous monthly high would happily send this pair to the 0.78877 region.

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Very nice move off the lows here, looks like a buy again.
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Yep, been long from 7145, looking to exit at .73
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IvanLabrie PRO IvanLabrie
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It's being rejected by that resistance to the left...I'll wait for further confirmation here.
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IvanLabrie PRO IvanLabrie
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